I cannot say that bigger is ALWAYS better, but if that 120 holds water (you should check first) and you can afford to fit it out, you will not regret the bigger tank. When calculating the total cost, do not ignore a decent stand of some kind; a five (confirm this, probably not 6') footer needs a stable base.
That said, I have a 75 and its proportions can work well. Maybe you should tell us a bit more about what you want in the tank. Tall swords and angels might be better in the 75, but a large school of smaller fish or active swimmers would be awesome in the 120.
RAOK Club #76
220g altum, 75g high tech, 6g shrimp: one office, three tanks
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